[Congressional Record (Bound Edition), Volume 146 (2000), Part 12]
[Senate]
[Pages 17647-17648]
[From the U.S. Government Publishing Office, www.gpo.gov]



REMOVAL OF INJUNCTION OF SECRECY--TREATY DOCUMENTS NOS. 106-46 AND 106-
                                   47

  Mr. THOMPSON. I ask unanimous consent that the Injunction of Secrecy 
be removed from the following treaties transmitted to the Senate on 
September 12, 2000, by the President of the United States: Protocol 
Amending Investment Treaty with Panama (Treaty Document 106-46); and 
Investment Treaty with Azerbaijan (Treaty Document 106-47).
  I further ask that the treaties be considered as having been read the 
first time, that they be referred with accompanying papers to the 
Committee on Foreign Relations in order to be printed, and that the 
President's message be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The messages of the President are as follows:

To the Senate of the United States:
  With a view to receiving the advice and consent of the Senate to 
ratification, I transmit herewith the Protocol Between the Government 
of the United States of America and the Government of the Republic of 
Panama Amending the Treaty Concerning the Treatment and Protection of 
Investments of October 17, 1982. This Protocol was signed at Panama 
City, on June 1, 2000. I transmit also, for the information of the 
Senate, the report of the Department of State with respect to this 
Protocol.
  The 1982 bilateral investment treaty with Panama (the ``1982 
Treaty'') was the second treaty to be signed under the U.S. bilateral 
investment treaty (BIT) program. The 1982 Treaty protects U.S. 
investment and assists Panama in its efforts to develop its economy by 
creating conditions more favorable for U.S. private investment and 
thereby strengthening the development of its private sector.
  As explained in the Department of State's report, the Protocol is 
needed in order to ensure that investors continue to have access to 
binding international arbitration following Panama's 1996 accession to 
the Convention

[[Page 17648]]

on the Settlement of Investment Disputes Between States and Nationals 
of Other States, done at Washington, March 18, 1965 (the ``ICSID 
Convention''). The Protocol provides each Party's consent to 
international arbitration of investment disputes under the 1982 Treaty 
before the International Centre for the Settlement of Investment 
Disputes, established under the ICSID Convention. The Protocol also 
provides for arbitration in accordance with the Arbitration Rules of 
the United Nations Commission on International Trade Law. The Protocol 
thus facilitates the use of such procedures by investors of the Parties 
to resolve investment disputes under the 1982 Treaty. The Protocol also 
sets forth each Party's consent to ICSID Additional Facility 
arbitration, if Convention Arbitration is not available. Convention 
Arbitration would not be available, for example, if either Party 
subsequently ceased to be a party to the ICSID Convention.
  I recommend that the Senate consider this Protocol as soon as 
possible, and give its advice and consent to ratification of the 
Protocol at an early date.
                                                  William J. Clinton.  
The White House, September 12, 2000.
                                  ____

To the Senate of the United States:
  With a view to receiving the advice and consent of the Senate to 
ratification, I transmit herewith the Treaty Between the Government of 
the United States of America and the Government of the Republic of 
Azerbaijan Concerning the Encouragement and Reciprocal Protection of 
Investment, with Annex, signed at Washington on August 1, 1997, 
together with an amendment to the Treaty set forth in an exchange of 
diplomatic notes dated August 8, 2000, and August 25, 2000. I transmit 
also, for the information of the Senate, the report of the Department 
of State with respect to this Treaty.
  The Bilateral Investment Treaty (BIT) with Azerbaijan is the fourth 
such treaty signed between the United States and a Transcaucasian or 
Central Asian country. The Treaty will protect U.S. investment and 
assist Azerbaijan in its efforts to develop its economy by creating 
conditions more favorable for U.S. private investment and thereby 
strengthening the development of its private sector.
  The Treaty furthers the objectives of U.S. policy toward 
international and domestic investment. A specific tenet of U.S. policy, 
reflected in this Treaty, is that U.S. investment abroad and foreign 
investment in the United States should receive national treatment. 
Under this Treaty, the Parties also agree to customary international 
law standards for expropriation. The Treaty includes detailed 
provisions regarding the computation and payment of prompt, adequate, 
and effective compensation for expropriation; free transfer of funds 
related to investments; freedom of investments from specified 
performance requirements; fair, equitable, and most-favored-nation 
treatment; and the investor's freedom to choose to resolve disputes 
with the host government through international arbitration.
  I recommend that the Senate consider this Treaty as soon as possible, 
and give its advice and consent to ratification of the Treaty at an 
early date.
                                                  William J. Clinton.  
The White House, September 12, 2000.

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